Kingfisher Q1 Sales Rise

Kingfisher plc (ADR) KGFHY posted a gain in its sales for the first quarter. Its like-for-like sales increased 0.8 percent to GBP2.59 billion for the first quarter, while retail profit in constant currencies rose to 150 million pounds ($230 million). Sales in the U.K. and Ireland climbed 1.6 percent to GBP1.24 billion on a like-for-like basis, while like-for-like sales in France slipped 1.2 percent to GBP953 billion. Véronique Laury, Kingfisher Chief Executive Officer said, "We have made a solid start to the year against strong comparatives." Kingfisher shares rose 1.66 percent to close at $11.30 yesterday.